News Release

Media Advisory: Caf Calls Bush Social Security Commission An Unbalanced "rubber Stamp" For Privatization

White House abandons consensus building -
Citizen coalition mobilizes to defend program

WASHINGTON - President Bush announced today that he is forming a "commission" to privatize Social Security. In response, the Campaign for America's Future issued the following statement, calling the commission "unneeded, unbalanced and a threat to Social Security's future."

[The Campaign for America's Future is the primary organizer of both the New Century Alliance for Social Security and Medicare, an anti-privatization coalition of citizen leaders representing labor, women, African Americans, Hispanics, seniors, the disabled, and young people; and the Social Security Information Project, which links activists and organizations nationwide. Authors of the statement below, Roger Hickey and Hans Riemer are available to talk with reporters.]

“President Bush has established a White House commission on the future of Social Security. The president claims that the purpose of this commission is to "reform" America's most important retirement and anti-poverty program. But he has also made it clear what he means by reform. He expects its members to bring forward by the fall a plan for Social Security privatization – a fundamentally flawed approach that would undermine Social Security's guaranteed benefits and survivors and disability insurance. The commission also appears to be designed to delay the introduction of the President's plan in hopes that the stock market can recover some of five trillion dollars in investments that have evaporated over the past year.

We view President Bush's commission as misguided for the following reasons:

This commission would weaken, not strengthen Social Security. In the past, bipartisan commissions, composed of elected officials, public representatives, and independent policy experts, have be been convened by the President and the Congress, but their purpose has always been to strengthen Social Security and improve its benefits and coverage. The President's approach – and his mandate to this commission – calls for funding privatized accounts with money that is needed for Social Security benefits. Moreover, his multi-trillion dollar tax cuts will not leave any additional surpluses to offset the loss in revenues to Social Security. As a result, the plan will require very large cuts in Social Security benefits for present and future retirees and a higher retirement age for younger and middle-aged workers.

Consensus on Social Security's future will never emerge from an unfair process. The President's appointments to the commission make it clear that he has no interest in including the views of independent experts or important stakeholders who have strong disagreements with his goal of privatizing Social Security. Indeed, this commission will seek to discredit approaches that do not involve privatization – while promoting factual distortions about Social Security's future financial condition and other important issues. Rigging the process in such a blatant manner guarantees that the president's commission abandons any possibility of building a national consensus on the future of Social Security.

This commission is not needed. The President, his staff and his allies are already committed to privatization. Calling their process of arranging the details a "commission" is an attempt to mislead the public about its process and purpose. In reality, it will amount to no more than a collection of individuals who support privatization. If President Bush wants to try to privatize Social Security, along with the profoundly unpopular benefit cuts, higher retirement age and all the other changes that privatization entails, he can submit a proposal to Congress at any time.”

For further information about why privatization (or so-called “partial privatization”) represents a serious threat to Social Security and the millions of Americans who collect benefits under the program, we urge you to contact the following coalition leaders, stakeholders, and independent experts:

CAMPAIGN FOR AMERICA'S FUTURE

ROGER HICKEY (202) 955 5665
New Century Alliance for Social Security and Medicare

HANS RIEMER (202) 955 5665
Social Security Information Project
2030 Center (public policy organization for young adults)

COALITION LEADERS / STAKEHOLDERS

GERALD SHEA (202) 637 5037
AFL-CIO
Member, 1994-96 Advisory Council on Social Security

HEIDI HARTMANN (202) 785 5100
President, Institute for Women's Policy Research
Women and Social Security task force chair, National Council of Women’s Organizations

MARTY FORD (202) 785 3388
The Arc (formerly the Association for Retarded Citizens)

BILL SPRIGGS (202) 898 1604
National Urban League

JOHN TROUT (301) 578 8422
Alliance for Retired Americans

INDEPENDENT EXPERTS

HENRY AARON (202) 797 6121
Brookings Institution senior fellow
Co-author of the new book on Social Security, “Countdown to Reform”

ROBERT M. BALL (703) 768 3438
Former Commissioner of Social Security
Member, 1994-96 Advisory Council on Social Security

PETER ORSZAG (877) 567 7439
Sebago Associates
Former special assistant to President Clinton for economic policy

ALICIA MUNNELL (617) 552 1934
Peter F. Drucker Professor of Management, Boston College
Former Council of Economic Advisors member

EDITH RASSELL (202) 775 8810
Economic Policy Institute

BOB GREENSTEIN (202) 408 1080
Center on Budget and Policy Priorities

RICHARD LEONE (212) 535 4441
The Century Fund

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